From December 31, 2010 through December 31, 2012, all noninterest-bearing transaction accounts are fully insured, regardless of the account balance and the ownership capacity of the funds. This coverage is available to all depositors, including consumers, businesses, and government entities. The unlimited coverage is separate from, and in addition to, the insurance coverage provided for a depositor's other accounts held at an FDIC-insured bank.

A noninterest-bearing transaction account is a deposit account where:

* interest is neither accrued nor paid;

* depositors are permitted to make an unlimited number of transfers and withdrawals; and

* the bank does not reserve the right to require advance notice of an intended withdrawal.

A noninterest-bearing transaction account also includes all deposits placed in an Interest on Lawyers Trust Account (IOLTA) or its equivalent.

Note: Money Market Deposit Accounts (MMDAs) and Negotiable Order of Withdrawal (NOW) accounts are not eligible for this temporary unlimited insurance coverage, regardless of the interest rate, even if no interest is paid.

This unlimited coverage is separate from, and in addition to, the coverage provided to a depositor’s other accounts held at an FDIC-insured bank.

In order to qualify for the temporary unlimited deposit insurance coverage, the account must meet the definition of a “Noninterest-bearing Transaction Account” as defined in the Dodd-Frank Wall Street Reform and Consumer Protection Act.

We will begin our discussion of ownership categories by looking at changes to insurance coverage for Noninterest-bearing Transaction Accounts under the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was signed into law on July 21, 2010.

From December 31, 2010, through December 31, 2012 all funds held in Noninterest-bearing Transaction Accounts will be fully insured without limit, regardless of the balance in the account or the ownership of the funds.

This coverage is available to all depositors, including consumers, businesses, and government entities.This unlimited coverage is separate from, and in addition to, the coverage provided to a depositor’s other accounts held at an FDIC-insured bank.

In order to qualify for the temporary unlimited deposit insurance coverage, the account must meet the definition of a “Noninterest-bearing Transaction Account” as defined in the Dodd-Frank Wall Street Reform and Consumer Protection Act.

LOOKS LIKE WE HAVE A FALSE ALARM ON THIS ISSUE. WANTED TO CLEAR THIS UP BECAUSE YOU WILL SEE IT GOING VIRAL LIKE EVERYTHING ELSE THAT HAPPENS.

Submitted by SD Contributor AGXIIK:As of January 2013 the FDIC stops offering 100% coverage for all insured deposits. That amounts to $1.6 trillion in deposits, 85-90% deposited with the TBTF mega banks. Once the insurance ramps back to $250,000 the FDIC risk amelioration offered to large depositors will cause them to flee from the insecurity of the much reduced FDIC coverage. This money will rotate immediately into short term Treasury securities. The treasury, in order to handle this flood of money, will immediately offer negative interest rates. This financing will resemble the .5% negative interest rate offered by the Swiss and Germans on the funds flooding to their banks from Spain, Greece and Italy. This will be a bank run much larger than the Euro banks flight to safety.I have noticed two disturbing matters that will most certainly come as a result of the Fed MBS program.1. The funds from the Fed purchases will rotate to the Too Big To Fail Banks. This debt is already junk bond status due to the nature of the underwater mortgages and delinquencies, hence the reason for the new Fed goon Squad going after borrowers.This debt will be as bad or worse than the debt of Greece, Spain and Italy, rated CCC-2. The banks receiving these funds will rotate the money immediately into short term treasury securities that will be priced at NIRP. the reason for that follows:3. As of January 2013 the FDIC stops offering 100% coverage for all insured deposits. That amounts to $1.6 trillion in deposits, 85-90% deposited with the TBTF mega banks. Once the insurance ramps back to $250,000 the FDIC risk amelioration offered to large depositors will cause them to flee from the insecurity of the much reduced FDIC coverage. This money will rotate immediately into short term Treasury securities. The treasury, in order to handle this flood of money, will immediately offer negative interest rates. This financing will resemble the .5% negative interest rate offered by the Swiss and Germans on the funds flooding to their banks from Spain, Greece and Italy. This will be a bank run much larger that the Euro banks flight to safety.4. The Social Security Trust fund must make at least 5-6% return to maintain its balance and provide income to the SS recipients. The TF is still guaranteed to go bankrupt by 2033, 21 years from now. The TF is required by law to invest in Treasury bonds. The actuarial problem now facing the TF is that they will be rolling old bonds yielding 5.6% into a yield pool averaging 1.4%, a 75% drop in income. This dramatic yield drop coupled with a 60% increase in SS recipients from 50 million to 91 million in the next 10 years will assure the TF will go bankrupt in about 10 years.This irreducible math is going to prove an insurmountable obstacle to those who are recently retired, have long live genes or plan to retire in the next 10 years. If the SS TF goes bankrupt then benefits will be cut by 25% . Inflation adjustments were never able to front run the lost in income. The inflation rate of 8% today and 15% tomorrow will destroy the senior investment pool.Another few unintended consequences of QE 3. Thanks Ben. May you rot in hell!

The banksters want to get everybody away from cash and into plastic credit cards. FDIC has never had enough money to cover more than 2% of bank deposits. People better wake up and realize that they are going to steal every cent of our money in banks, unless we get it out out now. They will﻿ also steal everything in 401k's.

1) the rumor circulating over a misinterpreted FDIC announcement on FDIC insurance expiring Jan 1, 2013, and2) The question of the solvancy of the FDIC in lieu of 1000's of bank failures, or the ability to cover deposits if banks fail in mass like is happening!